Bullish on Bitcoin
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Hi everyone!
By now you might be wondering why I am using BTC-e for my charts. I believe BTC-e is somehow filtering the noise and can be used both as an indicator and for technical analysis. tradingview.com/chart/P1usSLLl/ This is a chart I usually show people so that they can understand what I am talking about.
After breaking the 900$ level and now the 920$ in other exchanges, next target is 940-950$. If someone isn't convenced that Bitcoin is a good buy now, he can wait for the price to break the 6600CNY and 950$. tradingview.com/chart/wIwImDyw/
The action of the past two weeks can be seen as a head and shoulders or a cup and handle formation, depending on how you look at it. There will be very few really good opportunities to buy Bitcoin this low, as we might take a while to revisit the 800s, if ever again.
Bitcache is coming out and the PBOC inspections are over. Maybe a few more announcements, but I feel like nothing major will actually come out of it. bfxdata.com/positions/btcusd There is a relatively good balance between shorts and longs on Bitfinex which also a good sign.
China is ahead again, which is a good sign, even though I expect more longs to be closing than shorts over time, as margin trading has been halted in China. The open once didn't close, but once they close, they can't be reopened.
Another very bullish thing is that there are no significant premiums among the different exchanges and markets, which means the markets are synced (5-10$ premiums are nothing major)
By now you might be wondering why I am using BTC-e for my charts. I believe BTC-e is somehow filtering the noise and can be used both as an indicator and for technical analysis. tradingview.com/chart/P1usSLLl/ This is a chart I usually show people so that they can understand what I am talking about.
After breaking the 900$ level and now the 920$ in other exchanges, next target is 940-950$. If someone isn't convenced that Bitcoin is a good buy now, he can wait for the price to break the 6600CNY and 950$. tradingview.com/chart/wIwImDyw/
The action of the past two weeks can be seen as a head and shoulders or a cup and handle formation, depending on how you look at it. There will be very few really good opportunities to buy Bitcoin this low, as we might take a while to revisit the 800s, if ever again.
Bitcache is coming out and the PBOC inspections are over. Maybe a few more announcements, but I feel like nothing major will actually come out of it. bfxdata.com/positions/btcusd There is a relatively good balance between shorts and longs on Bitfinex which also a good sign.
China is ahead again, which is a good sign, even though I expect more longs to be closing than shorts over time, as margin trading has been halted in China. The open once didn't close, but once they close, they can't be reopened.
Another very bullish thing is that there are no significant premiums among the different exchanges and markets, which means the markets are synced (5-10$ premiums are nothing major)
Đóng lệnh: đạt mục tiêu
Target has been reached and I am taking some profits off the table. The arrow was spot on
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